GE Vernova Inc. (NYSE:GEV) Shares Acquired by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC grew its holdings in GE Vernova Inc. (NYSE:GEV) by 36.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,449 shares of the company’s stock after buying an additional 654 shares during the period. Soltis Investment Advisors LLC’s holdings in GE Vernova were worth $806,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GEV. Cedar Mountain Advisors LLC raised its holdings in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares during the period. Castleview Partners LLC purchased a new stake in shares of GE Vernova in the 3rd quarter valued at $28,000. Covestor Ltd raised its holdings in shares of GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 46 shares during the period. Darwin Wealth Management LLC purchased a new stake in shares of GE Vernova in the 3rd quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC raised its holdings in shares of GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 77 shares during the period.

GE Vernova Stock Up 1.8 %

Shares of NYSE GEV opened at $384.71 on Tuesday. The stock has a market cap of $106.04 billion and a PE ratio of 69.19. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The business has a 50-day moving average price of $358.59 and a 200 day moving average price of $287.18.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its board has authorized a share repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GEV shares. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective on the stock. in a report on Friday, January 24th. Morgan Stanley boosted their price objective on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Evercore ISI upped their price target on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Jefferies Financial Group upped their price target on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Citigroup upped their price target on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $346.22.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.